NCDRC asks Parsvnath Developers Ltd to pay over Rs 42 lakh

The apex consumer panel has asked real estate major Parsvnath Developers Ltd to pay over Rs 42 lakh to a buyer for failing to hand over a flat in Greater Noida in Uttar Pradesh, booked around ten years ago.
National Consumer Disputes Redressal Commission (NCDRC) also directed the firm to pay an interest of 18 per cent per annum from the date of each payment till the full amount is refunded.
A bench presided by Justice V K Jain asked the builder to pay Rs 42.37 lakh to Delhi resident Aditya Laroia, along with interest, after the complainant rejected the firm's offer that the flat would be handed over by the end of this year, saying "the complainant, in our view, is justified in refusing to accept offer made by the opposite party (firm)."

"The complaint is disposed of with a direction to opposite party to refund the entire amount received by it (Rs 42.37 lakh) from the complainant (Laroia) along with compensation to him in the form of simple interest at the rate of 18 per cent per annum from the date of each payment till the date on which the said refund along with compensation in form of interest is paid," the commission said.
According to the complaint, Laroia had booked the flat in firm's project Parsvnath Privilege in Greater Noida in May 2006 and the possession was to be delivered within 36 months from the date of commencement of construction of the flat.

However, Laroia claimed that the construction of the flat was not yet complete and, thereafter approached commission seeking Rs 1,23,11,998, including interest.
The firm submitted before the commission that it will be in a position to deliver the possession of the flat by the end of December 2016, which was rejected by complainant.